For the purposes of this task, your group has been asked to carry out a strategic review for a senior manager of a large multinational business.
Group Presentation (50%)
By working on a group presentation, you will be provided with an opportunity to develop experience of presenting in a group. Furthermore, you will gain insight into the challenges of working in groups in terms of the negotiation and organisational skills needed to make it work successfully. The group presentation also allows you to understand the nature of the marketing mix.
For the purposes of this task, your group has been asked to carry out a strategic review for a senior manager of a large multinational business. In the final presentation, it is envisaged that you are presenting your findings to the CEO of an established business. You must assume that the manager has a detailed knowledge of the business area featured in your presentation.
Based on an existing company (which you will choose, subject to the approval of your seminar tutor), you need to develop a new product or improve an existing product with a focus on developing an original marketing mix.
You will create and explain a marketing plan for your product.
The product must be in the follow area(s):
- Beauty and Personal Care
- Food, Food service
- Health and Wellbeing
- Leisure and Entertainment
Groups will consist of 4 members. All of the members must be in the same seminar class. The seminar tutor will make decisions as to the final membership of groups.
Student groups will present to your seminar tutor (acting as the senior manager of your chosen company) and other students in the final weeks of the module. The group has 10 minutes to present in front of the CEO (seminar tutor) and 10 minutes of discussion by the CEO`s board of directors (other students) will follow. Other academic staff and external visitors may also observe the presentations.
You should assume that your audience are senior decision-makers who will decide on the commercial viability of your product idea. Accordingly, you are expected to put forward persuasive arguments in favour of the adoption of the product. You are also expected to conduct yourself in a professional manner.
Membership of the groups will be organised during the seminars with your tutor.
Your Presentation (10 Minutes) should contain the following Components:
Product - A description of the product. What is it and what does it do? Describe its attributes. What benefits does it offer and which pains does it remove? Why is it relevant and important? Remember, the product must be in one of the categories set out above.
Customer Need - Set out important information which describes the opportunity you are looking to fill. What base(s) of segmentation you have used and why? Include size, geo-demographic, psychographic etc. Summarise the profile and persona of your target market. Include a brief analysis of the market: Key market trends (e.g. growth trends). Who are your significant competitors and how are they positioned? Include a brief analysis of the market: Key market trends (e.g. growth trends).
Include a statement that identifies why your target market should buy your improved product or service– i.e. what benefits it now offers and what problems it solves?
Company - Why is it a suitable opportunity for your company?
Distribution - How do you plan to distribute your product? Is the distribution plan relevant for your target market?
Price - Set out your pricing objectives. Why would your target audience see value in the proposed pricing structure? What is your price for the product?
Marketing Communications - Set out details of your promotion plans. Explain how your strategy fits your target market and also enhances your positioning strategy.
Your Recommended Marketing Mix (given your analysis above)
Your work needs to show that you have accessed good quality information on your market and product (e.g. Mintel) and that you have used the ideas about marketing from the module (e.g. from the lecture materials and from the core text)
All members of the group must present and participate in the presentation.
Questions will follow on after the presentation. A detailed marking rubric is set out below.
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